The chairman of the Senate Commerce Committee slammed new merger review procedures agreed upon Tuesday by the Federal Trade Commission and the Department of Justice, charging that the agreement was made in violation of a law requiring consultation from Congress.
"I believe this is in violation of appropriations law, which states that we be consulted," said Sen. Fritz Hollings (D-South Carolina), referring to a law requiring federal agencies to consult Congress before restructuring in a way that will impact their budgets.
Wednesday, March 06, 2002
Senator Slams Merger Agreement
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